Quince Company has book income of $120,000 properly determined in accordance with financial accounting principles. The following information is also available:

The company received a $10,000 dividend from a large publicly-traded domestic corporation.

Income tax expense on the financial statements was $30,000.

Depreciation expense on the financial statements is $25,000 less than depreciation expense determined using tax laws.

The company received life insurance proceeds of $15,000.

Charitable contributions of $20,000 were made.

Determine the taxable income of Quince Company.